Market Report Aug 05 2021

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Market Report for Aug 05 2021

If you don't stop and look around once in a while, you could miss it.

Market Trend:
S&P 500 = Up
Nasdaq Composite = Up

Market YTD:
S&P 500 +17.2% YTD
Nasdaq Composite +14.7% YTD
Dow Jones Industrial Average +13.7% YTD
Russell 2000 +11.2% YTD

Market Volume:
NYSE Vol: 886.2 mln (Below)
Nasdaq Vol: 4.3 bln (Below)

New Swing Positions:

A little pre NFP mini consolidation required the S&P 500 and Dow Jones Industrial Average to have a bearish day due to where they were within that range zone. The Nasdaq Composite closed positive again. However, what is happening day to day is of little consequence and NFP will be the deciding factor and catalyst as to what price will be doing near term beyond Wednesday and Thursday.

If price is exhausted, we will continue to see sideways action or bearish action.

If price is just having a pit stop then we will see more strength to come.

CERS was our big gainer at around +20% and SKLZ the big loser at around 10%.

BTCUSD and ETHUSD both gained on Wednesday as GBPUSD had a negative day below 50MA.

Let’s go trade!